[§304A-2681]  Imposition of rates, rents,fees, and charges; pledge, allocation of appropriation.  (a)  The boardshall impose and collect rates, rents, fees, and charges for the use orenjoyment and services of the facilities of each university project, and shallrevise rates, rents, fees, and charges whenever necessary, or allocate all orany portion of appropriation for each university project, so that, inaggregate, the revenue of the university with respect to all universityprojects, university systems, or networks shall produce revenue of theuniversity at least sufficient:

(1)  To pay the cost of maintenance of all universityprojects, university systems, or networks or any combination thereof, includingreserves therefor;

(2)  To pay when due all revenue bonds and interest thereon,for the payment of which all or any part of the revenue of the university is orhas been pledged, charged, or otherwise encumbered, including reservestherefor;

(3)  To reimburse the general fund of the State for principaland interest on general obligation bonds issued for university projects,university systems, or networks or any combination thereof, or to refundgeneral obligation bonds, to the extent required by law; and

(4)  To carry out all covenants and provisions of theresolution authorizing the issuance of revenue bonds.

(b)  Nothing in this subpart shall preclude themaking of appropriations to the university or board, including anyappropriation, or the acceptance of gifts by the board or the use of funds derivedfrom the sale of stocks, bonds, or other assets in the possession of the boardto pay all or part of the cost of construction or maintenance of any or alluniversity projects, university systems, or networks. [L 2007, c 161, pt of §1]